Welcome to our dedicated page for Fastly news (Ticker: FSLY), a resource for investors and traders seeking the latest updates and insights on Fastly stock.
Fastly, Inc. reports company news tied to its global edge cloud platform, which combines edge compute, delivery, security, and observability offerings for websites, applications, APIs, and digital media. Recurring updates cover financial results, customer concentration, network services revenue, security revenue, compute and observability activity, and product positioning around performance, latency, and developer experience.
Fastly news also includes partnerships and technology initiatives, such as anti-piracy collaboration for live sports streaming, as well as leadership appointments, equity inducement awards, and market-recognition announcements related to edge development platforms and internet application security.
Fastly has appointed Todd Nightingale as its new CEO, effective September 1, 2022. Nightingale, previously with Cisco, will also join Fastly’s Board of Directors. He succeeds Joshua Bixby, who will remain as an advisor. The board believes Nightingale's extensive technology and business strategy experience will enhance Fastly's go-to-market strategy and drive growth. With a track record in transforming infrastructures, he aims to leverage Fastly's edge cloud capabilities to deliver exceptional application experiences.
Fastly, Inc. (NYSE: FSLY) reported record quarterly revenue of $102.5 million for Q2 2022, a 21% year-over-year increase, exceeding guidance. The company repurchased $235 million of convertible debt at a 25% discount, reducing its total debt to $703.4 million. Despite a GAAP operating loss of $69 million, the trailing 12-month Net Retention Rate improved to 117%. Fastly has increased its full-year revenue guidance to $415-$425 million. New CEO Todd Nightingale will take over on September 1, 2022, succeeding Joshua Bixby.
Fastly (NYSE: FSLY) has announced a new reseller partnership with HUMAN Security, aiming to enhance bot detection and remediation for online applications. This collaboration will provide customers with robust protection against automated attacks, which account for three out of four online attacks today. Fastly's Next-Gen WAF, recognized for its flexibility and integration capabilities, will work alongside HUMAN's advanced security measures to safeguard users and assets while increasing ROI and minimizing cybersecurity risks.
Fastly has partnered with the Mercedes-AMG PETRONAS Formula One Team as an official global sponsor, emphasizing their shared commitment to speed and innovation. This collaboration will enhance digital performance for fans and marks an exciting period for Formula 1, which is experiencing significant growth with a cumulative TV audience of 1.55 billion. The partnership begins at the end of July 2022 and focuses on utilizing Fastly's advanced technology to improve the online fan experience.
Fastly, Inc. (NYSE: FSLY) has appointed Vaughan Woods as Area Vice President for ASEAN, aiming to strengthen its market presence in the region. Based in Singapore, Woods will lead the company's growth strategy and expansion efforts. Fastly's commitment to international growth includes investments across Asia Pacific, targeting countries like Australia, Japan, and South Korea. The company focuses on enhancing digital and cybersecurity capabilities for its customers, emphasizing the growing demand for edge computing solutions.
Fastly, Inc. (NYSE: FSLY) will announce its second quarter 2022 financial results on August 3, 2022, after market close. An investor conference call will follow at 2:00 p.m. PT / 5:00 p.m. ET. The call will provide insights into the company’s performance and future outlook. Investors and analysts can access the live webcast and dial-in details through the company’s investor relations page.
Fastly delivers modern content and application solutions to major clients like Pinterest and The New York Times, focusing on improving internet experiences.
Fastly, Inc. (NYSE: FSLY) announced the repurchase of approximately $235.0 million in Convertible Senior Notes due 2026 for about $176.2 million cash. The transaction, tentatively closing on May 31, 2022, will help reduce outstanding debt from $713.8 million post-repurchase. The purchase price may vary based on Fastly's stock performance. This strategic move could influence the stock price in the market.
Fastly, Inc. (NYSE: FSLY) has announced its acquisition of Glitch, a developer platform with over 1.8 million users. This acquisition aims to combine Fastly’s edge cloud capabilities with Glitch’s user-friendly environment to accelerate application development. The integration promises a seamless developer experience, enhancing innovation through serverless technologies and a collaborative community. Fastly intends to maintain Glitch's vibrant developer culture while providing additional tools and resources for users, setting the stage for enhanced global application deployment.
Fastly, Inc. (NYSE: FSLY) has decided to postpone its Investor Day originally set for May 12, 2022. This delay is attributed to current market volatility and a recent CEO transition, rather than any operational or financial changes within the company. Fastly will provide a new date for the Investor Day announcement in due course. The company emphasizes its commitment to innovation and speed in delivering services to customers including notable names like Pinterest and The New York Times.
Fastly (NYSE: FSLY) has been recognized as a Customers' Choice in the 2022 Gartner Peer Insights “Voice of the Customer”: Global CDN, achieving a high customer rating of 4.8 out of 5 stars and a 97% willingness to recommend. This recognition reflects Fastly's robust network, featuring 192 Tbps connected edge capacity and 95 points of presence across 71 markets, which supports rapid and secure digital experiences. CEO Joshua Bixby emphasized the importance of customer feedback in achieving this recognition.